At first it looked like it might not happen in the short-term, but the price of Bitcoin has in fact moved above both the 20 day SMA and the 21 day EMA, to potentially show the bulls are not done quite yet. Historically, when this happens we can either continue the bullish trend, or move into an elongated re-accumulation phase. Do you think the price of Bitcoin will put in a new high in the coming days? Or is Bitcoin entering an accumulation phase to last months? Or is this a complete fake out, which will ultimately send us much lower? TA Video by Benjamin Cowen.
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